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Petrobras (NYSE: PBR) officer reports 16,232 phantom award-linked units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA executive Clarice Coppetti, Chief Corporate Affairs officer, reported her current holding of phantom shares tied to PETR3 common shares. After this update, she holds 16,232.2800 phantom shares, referenced to PETR3 and settled in cash under the Petrobras Performance Award Program.

The award’s deferred portion vests in four equal annual instalments, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. The referenced share price is based on a 60-day weighted average, with a convenience conversion into U.S. dollars. This filing reflects compensation-related holdings rather than open-market share trading.

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Insider Coppetti Clarice
Role Chief Corp. Affairs
Type Security Shares Price Value
holding Phantom Shares -- -- --
Holdings After Transaction: Phantom Shares — 16,232.28 shares (Direct, null)
Footnotes (1)
  1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company. Weighted average of the last 60 trading sessions of Petrobras common shares in 2025, resulting in 33.02 BRL. The average is calculated as the sum of Turnover divided by the sum of Volume over these last 60 trading sessions. The price reported in column 2 is a convenience conversion of the 33.02 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 4.988 BRL per 1.00 USD on April 30, 2026. Additional phantom shares credited as a result of Petrobras Performance Award Program of 2025 fiscal year.
Phantom share balance 16,232.2800 units Phantom shares tied to PETR3 after reported holding entry
Reference price (BRL) 33.02 BRL per share Weighted average PETR3 price over last 60 trading sessions in 2025
Convenience USD price $6.62 per share Conversion of 33.02 BRL using 4.988 BRL per 1.00 USD on April 30, 2026
FX rate used 4.988 BRL per 1.00 USD Central Bank of Brazil exchange rate on April 30, 2026
Phantom shares financial
"Phantom shares are granted pursuant to the Petrobras Performance Award Program."
Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.
Petrobras Performance Award Program financial
"Phantom shares are granted pursuant to the Petrobras Performance Award Program."
underlying security financial
"The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting."
weighted average financial
"Weighted average of the last 60 trading sessions of Petrobras common shares in 2025, resulting in 33.02 BRL."
A weighted average is a way of calculating an overall number when some items matter more than others by giving each item a different level of importance, or weight. Investors use weighted averages to combine figures like prices, returns or earnings so the result reflects the size or significance of each part — like grading a class where a final exam counts more than a quiz, producing a score that better represents true performance.
interest on equity financial
"Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company."
A payment a company makes to its shareholders that compensates them for the capital they provided, similar to how a lender receives interest on a loan. In some accounting or tax systems this payment is treated like interest rather than a regular dividend, which can change a company’s reported profit, cash flow and the taxable income of investors; that treatment affects shareholder returns and valuation.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Coppetti Clarice
(Last)(First)(Middle)
RUA HENRIQUE VALADARES 28
19 TH FLOOR, A TOWER
(Street)
RIO DE JANEIRORIO DE JANEIRO20231-030
(City)(State)(Zip)
BRAZIL
(Country)		2. Issuer Name and Ticker or Trading Symbol
PETROBRAS - PETROLEO BRASILEIRO SA [ PBR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Corp. Affairs
2a. Foreign Trading Symbol
[PETR3]
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Shares(1)$6.62(2) (3) (3)PETR316,232.2842,876.1D
Explanation of Responses:
1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company.
2. Weighted average of the last 60 trading sessions of Petrobras common shares in 2025, resulting in 33.02 BRL. The average is calculated as the sum of Turnover divided by the sum of Volume over these last 60 trading sessions. The price reported in column 2 is a convenience conversion of the 33.02 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 4.988 BRL per 1.00 USD on April 30, 2026.
3. Additional phantom shares credited as a result of Petrobras Performance Award Program of 2025 fiscal year.
/s/ Clarice Coppetti04/30/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Clarice Coppetti report in this Petrobras (PBR) Form 4 filing?

Clarice Coppetti reported her updated holding of phantom shares tied to PETR3 common shares. After this update, she holds 16,232.2800 phantom shares under Petrobras’ Performance Award Program, a cash-settled compensation plan rather than direct ownership of Petrobras stock.

How many phantom shares does the Petrobras (PBR) executive hold after this transaction?

After this filing, the executive holds 16,232.2800 phantom shares referenced to PETR3 common shares. These phantom shares are part of Petrobras’ Performance Award Program and are settled in cash upon vesting, rather than delivering actual Petrobras shares to the executive.

What is the exercise or reference price used for Petrobras (PBR) phantom shares?

The phantom shares reference a weighted average price of 33.02 BRL per PETR3 share. This amount was converted for reporting convenience to approximately $6.62 per share using a Central Bank of Brazil exchange rate of 4.988 BRL per 1.00 USD on April 30, 2026.

How do Petrobras (PBR) phantom shares under the Performance Award Program settle?

Phantom shares granted under Petrobras’ Performance Award Program are settled in cash upon vesting. They are referenced to the PETR3 common share price, with the deferred portion vesting in four equal annual instalments rather than delivering actual common shares to the executive.

How are additional Petrobras (PBR) phantom shares credited to the executive’s account?

Additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. This mechanism keeps the phantom share award aligned with shareholder distributions, increasing the phantom share balance as the company returns capital through dividends or interest on equity.

Is this Petrobras (PBR) Form 4 filing an open-market buy or sell of shares?

This Form 4 reflects compensation-related phantom share holdings, not an open-market buy or sell of Petrobras stock. The entry records phantom shares under the Performance Award Program, which are cash-settled and referenced to PETR3, rather than direct trading in common shares.